Brown-Forman Reports Solid Top-Line Gains in 2Q, but Shares Remain Priced for Perfection
Wide-moat Brown-Forman’s second-quarter results slightly outpaced our top-line outlook for the year, with underlying net sales up 7% year to date, driven by volume, versus the roughly 5% we had modeled. We plan to raise our annual sales forecast to incorporate stronger volume growth, as the firm's efforts to establish a foothold in faster-growing markets and attract a broader customer base through line extensions, like Jack Daniel’s Tennessee Rye and ready-to-drink offerings, yield further benef...Brown-Forman primarily manufactures, bottles, imports, exports, markets, and sells a range of alcoholic beverage brands. Co.'s principal brands include, among other, Jack Daniel's Tennessee Whiskey; Jack Daniel's Tennessee Honey; Jack Daniel's RTDs; Gentleman Jack Rare Tennessee Whiskey; Jack Daniel's Tennessee Fire; Jack Daniel's Single Barrel Collection; Jack Daniel's Winter Jack; Jack Daniel's Sinatra Select; Jack Daniel's No. 27 Gold Tennessee Whiskey; Jack Daniel's Tennessee Rye; Korbel California Champagnes; Korbel California Brandy; Woodford Reserve Kentucky Bourbon; Woodford Reserve Double Oaked; Woodford Reserve Kentucky Rye Whiskey; Finlandia Vodkas; and Slane Irish Whiskey.
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